Tag Archives: sportshandle

Sportshandle.com: California Sports Gambling Initiative Among Greatest Losses in State Election History

Despite a record of nearly $500 million spent and raised – the most expensive ballot in U.S. history – to bring sports betting to California, a new Sportshandle.com story reports that the initiative was one of the worst losses in the state’s election history.

If passed, Prop 27 would have modified the state’s constitution to legalize mobile wagering.

Overall, the 83% to 17% defeat ranks as one of the most lopsided in the state’s history, making Prop 27 among the 99.6th percentile in terms of the scale of the loss, dating back more than a century to 1910.  

SportsHandle.com’s Mark Saxon goes in-depth on Prop 27 ranking No. 6 all-time as the worst bill ever in the state of California.  The only propositions that have fared worse than Prop 27 fared at the voting include:

  • Prop 101 (1988)
  • Prop 24 (1914)
  • Prop 13 (1940)
  • Prop 24 (1938)
  • Prop 5 (1922)

A link to Saxon’s column can be accessed by clicking here – California Wagering Initiatives Made The Worst Kind Of History

SportsHandle.com Unveils Comprehensive Betting Partnerships Tracker 

The Professional and Amateur Sports Protection Act (PASPA) was judicially overturned on May 14, 2018, and with the four-year anniversary of the decision approaching, SportsHandle.com today has launched a first-of-its-kind tracker with more than 250 sports betting partnerships formed since the initial ruling.  

A leading source for information on sports betting legalization in the United States, SportsHandle.com has created the go-to-resource to monitor all sports betting partnerships across professional sports leagues, teams, colleges, sports venues, athletes, celebrities, and more. 

Accessible under SportsHandle.com’s drop-down menu under “Tools,” the Sports Betting Partnership Tracker lists all agreements involving U.S. sportsbooks and sports entities. To date, 29 sportsbooks have entered into at least one partnership.

SportsHandle.com’s Sports Betting Partnership Tracker will be updated regularly with the latest agreements. As of today, the following number of partnerships exist in each of the below categories:

  • 133 – Professional sports teams 
  • 50 – Professional sports leagues 
  • 36 – Celebrity endorsers
  • 18 – Sports venues
  • 15 – Media properties or companies
  • 4 – Colleges and universities

Additional noteworthy statistics in Sports Handle’s Sports Betting Partnership Tracker include: 

  • 37 – Partnerships are the most by any one sportsbook (Caesars and DraftKings are tied) 
  • 24 – Individual DraftKings’ deals with pro sports teams (most of any sportsbook)
  • 22 – League with most individual teams partnered with a sportsbook (NBA), followed by the NFL (18), NHL (16) and MLB (11)
  • 2 – Sportsbooks have entered partnerships with major colleges and universities (Caesars and PointsBet)
  • 1 – Sportsbook has at least one team partnership in the MLB, MLS, NBA, NFL, NHL and WNBA (FanDuel) 

“The sports betting landscape is constantly evolving, and we are proud to unveil this all-encompassing resource that provides the most up-to-date partnership and sponsorship information in one convenient location,” said Brett Smiley, Co-Founder and Editor-In-Chief at SportsHandle.com. “Although there are currently more than 250 sports betting sponsorships, new partnerships and categories are being established on a weekly, if not daily, basis. We look forward to maintaining the most robust database for this information on the internet and we are extremely proud of the Sports Handle editorial and research team for making this valuable resource a reality.”

SportsHandle: California, Ohio Wagering Could Have Reached $400M for Super Bowl

Bettors in California and Ohio potentially could have wagered as much as $400 million on Super Bowl LVI Sunday were sports betting live in either state, according to an in-depth report issued today by SportsHandle.com, a leading news source of information on sports betting legalization in the U.S.

If bettors had the opportunity to wager on this year’s Super Bowl, featuring the Los Angeles Rams and Cincinnati Bengals on Feb. 13 at SoFi Stadium in Los Angeles, Sports Handle projects that handle in California could have reached $300 million with gross gaming revenue reaching $21 million, and the state potentially taking in $2.1 million in tax revenue on a single event.

In Ohio, where fans will watch the Bengals make their first Super Bowl appearance since 1989, handle could have reached up to $100 million, with gross gaming revenue of up to $7 million, and tax revenue of up to $700,000. Both sets of gross gaming revenue projections come from using the industry-standard 7% win rate or “hold” that operators claim in wins against bettors from handle wagered.

The Sports Handle research and subsequent article were compiled by managing editor and sports betting legislation expert Jill R. Dorson and by legislative analyst and wagering revenue researcher Chris Altruda. The research and analysis assume that operators in both states were offering live, legal digital wagering with remote registration for at least one full NFL season ahead of the Super Bowl, that a minimum of 10 digital platforms would be live, that the game would be competitive into the fourth quarter, and that all wagering platforms and the live broadcast would not have any major technical glitches. The tax revenue projections are based on a 10% tax rate, which will go into effect in Ohio when wagering goes live, and is also the proposed tax rate put forth by a group of seven sports betting operators working to qualify an initiative for the November 2022 ballot in California.

The SportsHandle.com article entitled “What If California and Ohio Had Legal, Live Sports Wagering For Super Bowl LVI?” can be accessed here: https://sportshandle.com/california-ohio-super-bowl-projected-handle

In December, Ohio Governor Mike DeWine legalized sports betting when he signed HB 29 into law. State regulators are currently crafting rules, and the law calls for betting to go live no later than Jan. 1, 2023.

In California, a tribal retail-only sports betting initiative has already qualified for the November 2022 ballot. There could potentially be three others, but the most likely is a proposal from a group of seven operators, including BetMGM, DraftKings, and FanDuel, that would allow for statewide mobile wagering with a 10% tax rate. The projections are based on voters approving the operators’ proposal.

Currently, legal online wagering is live in 20 U.S. jurisdictions, with up to three more — Maryland, Ohio, and Puerto Rico — to come online before 2023. In seven other states, retail-only wagering is available.

Founded in May 2017, Sports Handle is an elite sports betting industry news site that covers legislative and regulatory developments through original reporting, features, and analysis.  Sports Handle is owned and operated by Better Collective, a leading sports betting media group that includes The Action Network, US Bets, and RotoGrinders.